Subject: File No. S7-38-04
From: Douglas Workman

January 13, 2005

This email is in response to proposed SEC requirements that materials for internet roadshows be filed with the SEC (as opposed to live roadshow material which would not be required to be filed). This potential regulation would have an extremely negative impact to our business as institutional investors who manage assets outside of a major financial center (ie New York, Boston, or San Francisco). All institutional investors should be treated the same and have the same access to information, regardless of location. Roadshows are a vital part of the investment process. Travel to attend every roadshow is NOT feasible. Internet roadshows do provide comparable information to live meetings. In conclusion, the proposed regulations are misguided and should not be enacted. Thank you.